composition scheme
This query is : Open
Sudhanshu Jindal
(Querist)
24 June 2017
Sir I am manufacturing furniture and sale with in punjab. and my sale in 2016- 17 of rs. 40 and and now I have closing stock of rs.15 lac now I am want to opt composition scheme. can I opt composition scheme if yes than status of closing stock tax
CA Rashmi Gandhi
(Expert)
24 June 2017
If you dont have stock of outside state then you can opt for composition scheme.
No credit of stock is available in GST if you opted in Composition
No credit of stock is available in GST if you opted in Composition
Sudhanshu Jindal
(Querist)
24 June 2017
tax liability for closing stock if I have no inter state purchase closing stock but purchase from unregister person app.1 lac
CA Rashmi Gandhi
(Expert)
24 June 2017
No credit available in respect of that as no tax paid on it.
Sudhanshu Jindal
(Querist)
25 June 2017
pls referee the section which rescticted us for opt composition scheme if I have closing of interstate purchase goods
CA Rashmi Gandhi
(Expert)
25 June 2017
Check point No.5 in Notification No. 3 /2017 - Central Tax
Ne
Ne
Sudhanshu Jindal
(Querist)
25 June 2017
so that I have no tax liability on closing stock for deposit tax if I am opt composition scheme
CA Rashmi Gandhi
(Expert)
25 June 2017
Yes.........
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